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  1. Hi there... Can you please quickly check to make sure your email address is up to date here? Just in case we need to reach out to you or you lose your password. Muchero thanks!

Consumer Financial Protection Board

Discussion in 'Too Hot for Swamp Gas' started by G8trGr8t, Sep 29, 2023.

  1. G8trGr8t

    G8trGr8t Premium Member

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    Legal or not? Supreme's seem to be leaning towards not. That will require a bit of legislation to untangle/reassign all those powers that got consolidated under the CFPB

    The Supreme Court is about to rule on America’s most powerful, unaccountable federal agency (msn.com)

    Though he severed the tenure issue from the funding mechanism then (probably because there is no readily available substitute), Roberts noted the agency “acts like a mini legislature, prosecutor, and court, responsible for creating substantive rules for a wide swath of industries” and “levying knee-buckling penalties against private citizens,” with “no basis in history and no place in our constitutional structure.”

    Two justices, Clarence Thomas and Neil Gorsuch, opposed the court’s severability decision, writing that “independent agencies pose a significant threat to individual liberty and to the constitutional system of separation of powers and checks and balances.”
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    If that happens, a final opinion could be issued before the end of the calendar year, and if the court throws out the funding mechanism as unconstitutional, it could also choose to delay imposition of their ruling and give the Congress the whole of 2024 to craft an alternative.

    Something must be done: The CFPB has more power than any agency in US history, and its potential to abuse this authority is enormous.
     
  2. defensewinschampionships

    defensewinschampionships GC Hall of Fame

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    The CIA has entered the chat, which they created, fomented unrest within the chat, then overthrew some despot in some random 3rd world country at taxpayer expense.
     
    Last edited: Sep 29, 2023
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  3. wgbgator

    wgbgator Premium Member

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    A new Supreme Court case could trigger a second Great Depression

    Seems like a ridiculous long-shot case that is in front of the court largely because the 5th circuit has a lot of crazy right-wing judges.
     
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  4. l_boy

    l_boy 5500

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    That’s the New York post you are quoting.

    I guess an agency looking out for consumer’s best interest is an intolerable overreach.
     
  5. wgbgator

    wgbgator Premium Member

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    They are very casual about what happens after they invalidate most of federal spending, just let a divided government figure it out in the midst of an election cycle, no biggie. I'm sure the markets will respond normally lol.
     
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